Hanoi, July 31, 2024, The Europe Today: Deputy Prime Minister Trần Hồng Hà hosted Yamada Takio, Special Advisor of the Japanese Ministry of Foreign Affairs and Ambassador of the Japanese government’s Asia Zero Emission Community (AZEC) initiative, on Wednesday.
Deputy PM Hà congratulated Yamada on his appointment as the AZEC Ambassador and affirmed the strong commitments and agreements made by senior leaders of Vietnam, Japan, and partner countries regarding the initiative. He emphasized the need for tangible projects to demonstrate the realization of AZEC’s goals, such as improving the efficiency and reducing emissions of coal-fired power plants, transitioning from coal and oil to natural gas, and investing in renewable energy sources including offshore wind power, solar power, pumped-storage hydroelectricity, biomass power, and waste-to-power projects. These efforts aim to achieve carbon neutrality and reduce net greenhouse gas emissions to zero by 2050.
“We need to discuss specific and feasible contents, get to work and take business cooperation as the center,” Hà stressed.
The Electricity and Renewable Energy Authority of the Vietnamese Ministry of Industry and Trade, the Japanese Embassy in Vietnam, and the Japan Bank for International Cooperation (JBIC) have established a working group to implement AZEC. The group aims to facilitate energy and green transitions at power plants using fossil fuels in Vietnam, promote renewable energy generation, develop power systems and electricity markets, and diversify the electricity market, including wholesale and retail sectors.
Deputy PM Hà highlighted that AZEC energy projects must follow market mechanisms, ensuring supply and energy efficiency, carbon neutrality, and the achievement of net zero emissions. He expressed hope that Japanese partners and Vietnam will closely collaborate on the Just Energy Transition Partnership (JETP) roadmap, focusing on research, testing, technology transfer, and the application of new technological solutions to enhance environmentally friendly hydropower plants. Additionally, he emphasized the importance of forming an international carbon credit market to create a green financial flow for offsetting renewable energy project investment costs.
Yamada Takio assured that the Japanese government and other parties are committed to promoting AZEC. He noted that the Japan Business Federation (Keidanren) has proposed specific projects and pledged comprehensive support for the initiative’s implementation. “Vietnam is one of the most important partners in implementing the AZEC,” he asserted, praising the country’s efforts in realizing net zero commitments through mechanisms, policies, and specific projects.
During the meeting, Yamada proposed a list of feasible projects, including gas-fired power, renewable energy, and transmission infrastructure, with the participation of large-scale Japanese corporations and banks.
